- Combination of two publicly-traded companies creates
strengthened position in optical technology
SAN FRANCISCO, May 11, 2015 /PRNewswire/ -- Mooreland Partners,
the leading independent investment bank providing M&A and
private capital advisory services to the global technology
industry, today announced that it acted as the exclusive financial
advisor to Luna Innovations Incorporated (NASDAQ: LUNA) on its
merger with Advanced Photonix, Inc. (NYSE: API). The combined
company will keep the Luna name and be headquartered in
Roanoke, Virginia, and will have a
strong product foundation with Luna Innovations' ("Luna") core test
& measurement products and Advanced Photonix's ("API") High
Speed Optical Receiver (HSOR) and Optosolutions product lines.
Stockholders from both companies approved the transaction on
May 8, 2015.
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"The merger of API and Luna will result in a much larger, yet
more cost efficient company. The combined new company will have the
resources necessary to continue investing in growth areas such as
Luna's strain and temperature sensing business, and API's next
generation of receivers and detectors," said Richard Dalton, Managing Director of Mooreland
Partners.
Luna Innovations is a public company composed of scientists,
engineers, and business professionals that develop and manufacture
next generation technologies and products. The company successfully
takes innovative technologies from applied research to product
development, and ultimately to the commercial market – driving
breakthroughs in the aerospace, automotive, telecommunications,
healthcare, energy, and defense sectors.
Advanced Photonix has three product lines, and is a leading
supplier of optoelectronic sensors, devices, and instruments used
by the test and measurement, process control, medical,
telecommunication and Homeland Security markets. API's High-Speed
Optical Receiver (HSOR) products are used by the telecommunication
market in both telecommunication equipment, and in test and
measurement equipment that is utilized in the manufacturing of
telecommunication equipment. The Terahertz sensor product line is
targeted to the process control (including via non-destructive
testing) and security markets. API's T-Gauge® sensor can measure
sub-surface physical properties, like multi-layers thicknesses,
density, moisture content, anomaly detection and some chemical
features, online and in real-time. Optosolutions focuses on
enabling manufacturers to measure physical properties, including
temperature, particular counting, color, and fluorescence for
medical, Homeland Security and process control applications. For
more information visit http://www.advancedphotonix.com.
ABOUT MOORELAND PARTNERS
Founded in 2002, Mooreland Partners is a leading independent
investment bank providing M&A and private capital advisory
services to the global technology industry, serving clients from
its offices in Silicon Valley, Greenwich (CT), and London. Mooreland's team of nearly 50 banking
professionals delivers industry domain and transaction expertise
across all major technology sectors including communications
technology, mobile and digital media, enterprise software and
services, as well as industrial technology and electronics. Read
our blog, follow us on Twitter or learn more at
www.moorelandpartners.com.
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respective owners.
MEDIA
CONTACTS
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Mindy M.
Hull
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Kayla
Egbert
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Mercury Global
Partners for
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Mercury Global
Partners for
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Mooreland
Partners
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Mooreland
Partners
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Tel. +1 415 889 9977
(U.S.A.)
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Tel. +1 407 529 6937
(U.S.A.)
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mindy@mercuryglobalpartners.com
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kayla@mercuryglobalpartners.com
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